ROCKVILLE, Md., March 27 /PRNewswire/ --
Human Genome Sciences, Inc. (Nasdaq: HGSI) today announced that Takeda Chemicals Inc. has selected approximately 100 targets for use in small molecule and antibody drug discovery.
The targets are of particular interest to Takeda because
Takeda, the largest pharmaceutical company in Japan, is one of Human Genome Sciences' five strategic partners in its human gene consortium. Through the 1995 agreement with Human Genome Sciences, Takeda became one of the world's first major pharmaceutical companies, and the first in Japan, to enter into a broad strategic alliance in order to access state-of-the-art genomics information and technology.
Under the terms of the broad collaboration agreement between the two companies, Human Genome Sciences is entitled to receive milestone and royalty payments on products developed and commercialized by Takeda. Takeda's selection of approximately 100 individual drug discovery targets based on Human Genome Sciences' gene sequencing technology indicates the value this technology represents to its partners.
Arthur M. Mandell, Senior Vice President and Chief Business Officer of Human Genome Sciences, said, "We are very pleased that our strategic partner, Takeda Chemicals, has identified so many targets of interest for their own drug discovery efforts. We have a high regard for Takeda's research capabilities and view the selection of these targets as a further strengthening of our long term relationship."
Dr. Osamu Nishimura, Corporate Officer, General Manager, Pharmaceutical Discovery Research Division of Takeda Chemicals, commented, "Human Genome Sciences' genomics database has provided our organization with a tremendous opportunity to expand the number of drug discovery targets available to us. We are hopeful that these targets will translate into meaningful therapeutics in the years to come."
Takeda Chemicals, the largest pharmaceutical company in Japan, recorded pharmaceutical sales of U.S. $6.4 billion in fiscal year 1999.
Human Genome Sciences is a company with the mission to treat and cure disease by bringing new gene-based drugs to patients.
HGS and Human Genome Sciences are registered trademarks of Human Genome Sciences, Inc. For additional information on Human Genome Sciences, Inc., visit the company's Web site at http://www.hgsi.com . Copies of HGS press releases are also available by fax 24 hours a day at no charge by calling 800-758-5804, ext. 121115.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are based on Human Genome Sciences' current intent, belief and expectations. These statements are not guarantees of future performance and are subject to certain risks and uncertainties that are difficult to predict. Actual results may differ materially from these forward-looking statements because of the company's unproven business model, dependence on new technologies, uncertainty and timing of clinical trials, ability to develop and commercialize products, dependence on collaborators for services and revenue, substantial indebtedness, intense competition, uncertainty of patent and intellectual property protection, dependence on key management, uncertainty of regulation of products, dependence on key suppliers, the impact of future alliances or transactions and other risks that may be described in the company's filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. Human Genome Sciences undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances or otherwise.